Saved by the billionaires

Three months after billionaire Robert F. Smith promised to wipe out the student debt held by the Morehouse College class of 2019, he extended the gift to the federal education debt held by graduates' parents, bringing the total commitment to $34 million. Earlier this week, another pair of billionaires, Sanford Weill and Maurice "Hank" Greenberg, said they'd lead a $160 million effort to curb debt for qualifying medical students at Weill Cornell Medicine in New York.  These are awesome and needed acts of philanthropy. But they underscore the power held by the world's richest people to change the course of personal and social history. With a combined net worth estimated just shy of $10 billion, these three billionaires alone could wipe out the debt for every Morehouse graduating class for the next 300 years. —Janet Paskin Did you see this?  A Lloyd's of London survey revealed that 8% of its members witnessed sexual harassment in the last year, a level CEO John Neal called "shocking."   Facebook settled claims over targeted ads on its site, but the bias complaints extended to advertisers who were looking for specific ages and genders to offer housing and jobs. Now the EEOC is looking at them.  Europe's loudest anti-immigrant leaders are quietly opening their doors...to immigrants, Bloomberg Businessweek reports.  Corporate diversity programs are working, or so straight white men say. Bulgarian economist Kristaline Georgieva will succeed Christine Lagarde at the top of the International Monetary Fund.  Goldman Sachs is trying to assemble the most diverse tech banking team on Wall Street.    Mattel's newest dolls can be boys, girls, neither or both.  We love charts The number of white working-class Americans dropped below 40% of the population for the first time last year, reflecting demographic shifts that could pose a threat to President Donald Trump's re-election bid.  Same old, same old About a month ago, almost 200 CEOs issued a joint statement affirming that the purpose of a corporation was to benefit all stakeholders, a more expansive view than the long-held primacy of shareholders over, well, everything. Now it turns out that may be optimistic. Bloomberg reporters asked dozens of CEOs what they'd be doing differently now. Here's what they said.  ———————————————————————————————— Like the Bloomberg Equality newsletter? Subscribe to Bloomberg.com. You'll get our unmatched global news coverage and two premium daily newsletters, The Bloomberg Open and The Bloomberg Close, and much, much more. See our limited-time introductory offer. The Bloomberg Breakaway CEO Summit returns to London on Nov. 12, with Bloomberg TV and radio co-anchor Carol Massar. Join more than 100 CEOs and founders for a day of expert-led workshops, compelling key note speeches and news-making interviews to help scale up and transform your organization. Applyhere to become a member and attend the London summit this November. Download the Bloomberg app: It's available for iOS and Android FOLLOW US SEND TO A FRIEND You received this message because you are subscribed to Bloomberg's Bloomberg Equality newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022